The number of Levi's common shares that were outstanding on 12/31/2020 is 16,000,000 shares.
<h3>What is an
Outstanding common shares?</h3>
This refers to the number of shares of common stock that a company has issued to investors and company executives.
Total common shares
= $95million / $5 par shares
= 19 million shares
Outstanding common shares = 19 million shares - 3 million shares
Outstanding common shares = 16,000,000 shares
Therefore, the number of Levi's common shares that were outstanding on 12/31/2020 is 16,000,000 shares.
Full information
The following partial information is taken from the comparative balance sheet of Levi Corporation:
Shareholders’ equity 12/31/2021 12/31/2020
Common stock, $5 par; 29 million shares authorized; 24 million shares issued and 19 million shares outstanding at 12/31/2021; and ____million shares issued and ____shares outstanding at 12/31/2020.
$120million $95million
Additional paid-in capital on common stock 529million 401million
Retained earnings 206million 166million
Treasury common stock, at cost, 5 million shares at 12/31/2021 and 3 million shares at 12/31/2020 (81million) (59million)
Total shareholders’ equity $774million $603million
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